Bill would reduce NJ property taxes by 25 percent
A New Jersey lawmaker continues to push legislation that would cut property tax bills throughout the state.
New Jersey Assemblyman Reed Gusciora (D-Trenton) has reintroduced legislation to amend the state constitution to lower property tax bills by 25 percent. He said his legislation would accomplish that goal, but admitted it has not gotten a lot of support among fellow lawmakers.
"This is a bill that I call 'Proposition New Jersey' which would be put to the voters to reduce property taxes by 25 percent," Gusciora said. "It cuts property taxes by 25 percent and then gives the Legislature two years to make up the difference through other taxes or cost-cutting measures."
The resolution proposes an amendment to the constitution to limit the amount of real property taxes payable by property owners to 2.2 percent of the value of their homes and property. It would also require the Legislature to annually appropriate from the Property Tax Relief Fund the money necessary to reimburse each town for the amount of uncollected property tax revenue resulting from the limit.
"Every year it would limit it. People would always know how much property taxes they would have to pay," Gusciora said.
The average property tax bill in the Garden State in 2013 was $7,988, a 1.7 percent increase from the previous year, according to the Department of Community Affairs.
The resolution has been introduced before, but never advanced. Gusciora said he knows why that is.
"I think legislators are wary that it would require us to then come up with the (revenue) difference and I know no one like to propose other taxes," Gusciora said.